Stephen Message celebrates fifth anniversary


LONDON

19 January 2015

Stephen Message celebrates fifth anniversary

Managing the Old Mutual UK Equity Income Fund

Old Mutual Global Investors today marked the fifth anniversary of Stephen Message managing the top performing £152m¹ Old Mutual UK Equity Income Fund (“the Fund”) by hosting an industry roundtable to discuss the opportunities that Stephen believes will dominate the sector in 2015.

Since taking over the Fund on 3 December 2009, Stephen has placed a high emphasis on investing in businesses with good dividend growth prospects. He has also reduced the number of holdings in the fund from over 70 to the current number of just over 40, in order to put more conviction in to his strongest ideas.  

This investment approach has delivered strong investment returns for investors, whilst also delivering a yield greater than the market. As at 31 December 2014 the fund yield was 4.08%.²

CUMULATIVE

PERFORMANCE

Over 1 year

Over 3 Years

Over 5 years

Old Mutual UK Equity Income Fund

4.66%

64.69%

82.27%

Sector Average

(IMA UK Equity Income)

3.61%

49.6%

67.15%

Benchmark

(FTSE All Share)

1.18%

37.27%

51.76%

 

Data from Factset 01/01/2010 – 31/12/2014

The Fund adopts a total return approach and aims to be flexible to invest across the market and also invest in those companies where the dividend yield may be low today, but the growth potential is superior.

On his outlook for the year, Stephen Message comments:

“2014 proved a challenging year for investors and we expect that 2015 will be no different. Causes for concern in the coming year will be influenced by expectations for monetary policy against a background of an uneven global economic recovery and falling inflation. Against this the recent sharp falls in the oil price, if sustained, should provide a welcome boost for consumer incomes.

“Notwithstanding these challenges our outlook for the medium to longer term remains positive as we are still able to unearth a number of opportunities that offer the attractive combination of a healthy dividend yield with good prospects for dividend growth. In particular the portfolio is significantly overweight financial companies, which includes banks and life insurers, and telecommunications. Against this the portfolio remains underweight the consumer goods and oil and gas sectors.

“In an environment of low interest rates and falling inflation, the search for an attractive and growing income is as challenging as ever. The Old Mutual UK Equity Income Fund is designed to provide investors with an attractive, above average yield as a well as long-term capital appreciation, therefore adding real value to a portfolio.”

Stephen Message biographical details

Stephen Message is a Citywire AAA rated manager who joined Old Mutual Global Investors in 2008 and began managing the Old Mutual UK Equity Income Fund in December 2009. He started his investment career at US private wealth manager Bessemer Trust, where he worked for two years, firstly as an analyst covering Asia ex Japan and UK equities and then as manager of the UK component of Bessemer’s international equity fund.  Stephen has a MEng in Aeronautical Engineering from Imperial College London (2005) and is a CFA Charterholder.

¹As at 30.11.2014

² For the Old Mutual UK Equity Income A Acc Fund

Media Contacts:

Amelie Shepherd, PR Executive                                                        020 7332 8345

Vee Montebello, Head of PR and Internal Communications           020 7332 7687

Notes for Editors:

Old Mutual Global Investors:

Old Mutual Global Investors has grown strongly since its creation in August 2012 and now has assets under management of £17.4 billion*.   The team consists of 203 industry professionals, including a team of 52 investment professionals. As part of Old Mutual Group it has a strong financial parent to support the activation of its business strategy. Old Mutual Global Investors is the asset management division of Old Mutual Wealth. To find out more information please go to:  www.omglobalinvestors.com

 

Old Mutual Wealth:

Old Mutual Wealth is a leading retail investment business in the UK and internationally. It aims to help people who want to make a positive change for themselves, those close to them or the society they live in by helping them secure their financial future.

It has an adviser and customer offering spanning: 

  • Financial advice via the Intrinsic network and independent financial advisers
  • Platform based wealth management products and services via Old Mutual Wealth in the UK and Old Mutual International globally
  • Asset management solutions via Old Mutual Global Investors 

Old Mutual Wealth currently oversees £82.2* billion in customer investments. 

Old Mutual Wealth is part of Old Mutual plc, a FTSE 100 group that provides life assurance, asset management, banking and general insurance. Old Mutual is trusted by more than 16 million customers across the world and has a total of £308 billion* assets under management.

*as at 30 September 2014

Important information: Past performance is no guarantee of future results. The value of an investment and the income from it can fall as well as rise and investors may not get back the amount originally invested.

This communication is issued by Old Mutual Global Investors (UK) Limited (trading name Old Mutual Global Investors), which is a member of the Old Mutual Group. Old Mutual Global Investors is registered in England and Wales under number 02949554 and its registered office is 2 Lambeth Hill London EC4P 4WR. Old Mutual Global Investors is authorised and regulated by the UK Financial Conduct Authority (“FCA”) with FCA register number 171847 and  is owned by Old Mutual Plc, a public limited company limited by shares, incorporated in England and Wales under registered number 3591559. OMGI 01/15/0102